Giving addresses community issues around affordable housing, small
businesses, education, sustainability
SAN FRANCISCO–(BUSINESS WIRE)–Wells Fargo today announced the company donated more than $61 million
through 2,579 grants to local nonprofits, schools and community
organizations in 2018 to help the communities and people of California.
Wells Fargo’s philanthropic contributions build on a long history of
collaboration with local nonprofits and community leaders to make a
positive impact by addressing urgent community issues such as affordable
housing, small business growth, access to education and sustainability.
When combined with the more than $19 million donated by the company’s
California team members, nonprofits in the California received a total
of $80 million from Wells Fargo and its team members in 2018. That
amounts to an average daily donation of $220,807.
“Across our community, many residents are working hard to make ends
meet,” said Brenda Wright of Wells Fargo Corporate Philanthropy &
Community Relations. “Here in California, we want to help people find a
stable place to live, help small business owners expand, and help young
people gain a quality education that prepares them for the workforce. We
are determined to help people and communities succeed financially,
especially in underserved areas. We will continue to provide
philanthropy, volunteers, expertise and other resources to revitalize
and strengthen local neighborhoods.”
Beyond philanthropy, Wells Fargo team members in California volunteered
more than 252,000 hours in 2018 to support nonprofits and causes
important to them. These volunteer hours are the equivalent of more than
$6 million, according to the Independent Sector.
“Part of what makes Wells Fargo unique is the generosity of our team
members, who help multiply our community impact,” said Wright.
“Sometimes giving time is even more valuable than money, because it puts
our desire to build a strong community into action and gives us a
tangible way to personally make a difference.”
Making an impact in California
Wells Fargo concentrated its local philanthropic contributions on
addressing urgent community issues such as:
Affordable housing. To help increase affordable, stable housing
and homeownership in low- and moderate-income neighborhoods, Wells
Fargo collaborated with grantees such as East Bay Asian Local
Development Corporation, Cabrillo Economic Development Corporation,
Fresno Housing Authority, Neighborhood Housing Services of the Inland
Empire and LA Family Housing to provide homebuyer education, down
payment assistance and other affordable housing solutions.
Small business growth. Small businesses are critical to job
creation and a vibrant community. Many diverse-owned small businesses
face unique challenges and often lack access to the full spectrum of
resources necessary for growth and success. Nonprofits serving small
businesses — including Opportunity Fund, California Hispanic Chambers
of Commerce Foundation, California Black Chamber of Commerce
Foundation and California Asian Chamber of Commerce Foundation —
received grants to provide access to capital and training for
entrepreneurs in rural and urban markets.
Economic equity and inclusion. Support included grants to
nonprofits that directly serve diverse and historically underserved
groups, including education, vocational training and other solutions
for communities with limited access to traditional financial services.
Examples include Hispanas Organized for Political Equality, JVS SoCal
and Women’s Economic Venture.
Access to education. Support included grants for local K-12
schools, scholarships for post-secondary or vocational training and
financial education. Examples include Silicon Valley Education
Foundation, Youth Policy Institute, TELACU Education Foundation and
Parent Institute for Quality Education.
Human services. Support included grants to nonprofits that
directly focus on building more resilient communities, addressing food
and security, disaster recovery and homelessness. Examples include
United Way, American Red Cross, Illumination Foundation, Los Angeles
LGBT Center, Union Rescue Mission and the Butte Strong Fund.
Minimizing the impacts of climate change. The company supported
the work of nonprofits helping communities become more resilient in
the face of a changing climate, including environmental education,
resiliency planning, green infrastructure and bringing renewable
energy to low-income communities. Examples include Grid Alternatives,
Friends of the Urban Forest, Los Angeles Cleantech Incubator and
About Wells Fargo
Founded in 1852 and headquartered in San Francisco, Wells Fargo &
Company (NYSE:WFC) provides banking, investment and mortgage products
and services, as well as consumer and commercial finance, through 7,800
locations, more than 13,000 ATMs, and the internet (wellsfargo.com).
Wells Fargo’s vision is to satisfy customers’ financial needs and help
them succeed financially. With approximately 259,000 team members, Wells
Fargo serves one in three households in the United States. Wells Fargo &
Company was ranked No. 26 on Fortune’s 2018 rankings of America’s
largest corporations. In 2018, Wells Fargo donated more than $444
million to nearly 11,000 nonprofits in support of affordable housing,
small business growth, financial education, and sustainability, among
other community needs. For 10 consecutive years, Wells Fargo has held
the honor of No. 1 in workplace giving by United Way Worldwide. Wells
Fargo team members also make a difference by donating more than 2
million hours of volunteer time in the last year. News, insights and
more information on the company’s corporate responsibility are available
Paul A. Gomez, 213-253-3720